Nifty traded on a subdued note on Friday and ended almost unchanged amid mixed cues - Religare Broking Ltd
NIFTY
* Nifty traded on a subdued note on Friday and ended almost unchanged amid mixed cues.
* After a flat start, the Nifty traded within a narrow range throughout the session and eventually settled at 23,897.70, up 0.10%.
* Technically, the Nifty is hovering below its immediate resistance zone of 24,050–24,150.
* On the downside, the 23,800 region remains a crucial support, and a decisive break below this level could trigger fresh selling pressure towards 23,600.
* While the broader index trend remains weak, traders should focus on stock-specific opportunities across sectors and maintain balanced positions with disciplined overnight risk management.
BANK NIFTY
* The banking index witnessed a volatile session and ended largely flat, reflecting sustained market indecision.
* The index opened on a firm note but remained range-bound between the 20 and 50 DEMA, indicating a lack of directional momentum.
* Sectoral breadth was mixed, with HDFC Bank and Axis Bank outperforming, while IDFC First Bank and Federal Bank underperformed.
* Immediate resistance is placed near 58,300, while 56,500 remains crucial support.
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